Strategic Banking Corporation of Ireland Act 2014


Alienation of shares by Minister

12. (1) The Minister may hold for so long as he or she thinks fit any shares in the SBCI subscribed for, taken up or acquired by the Minister.

(2) The Minister may, at such time or times as appear to him or her appropriate, sell, transfer, exchange, surrender, redeem or dispose of all or any of the shares in the SBCI on such terms and conditions as appear to the Minister to be appropriate.

(3) Any funds received in respect of the sale, transfer, disposal, surrender, exchange or redemption of any share to which subsection (2) refers shall be paid into or disposed of for the benefit of the Exchequer.

(4) The Minister may not dispose of any shares in the SBCI without the general principles of the disposal being laid before each House of the Oireachtas.